Let’s open the doors to the entrepreneurs
OPINION: I went to a great gig last week at BizDojo, Wellington’s co-working hangout.
It was an eclectic lineup of speakers supping on organic juice and Garage Project beer.
A heavily tattooed Pakeha skinhead, a Californian rap poet, an Ethiopian startup guy and some local kaumatua. There was even a Cabinet minister getting all frothy about procreation and ecosystems. Meanwhile the whole shebang took place place under the distant-horizon gaze of Sir Edmund Hillary, or at least his image on a wall mural.
No, it wasn’t a fundraising for a bluegreen startup, or an early kick-off to the Womad festival. In fact, it was the formal launch of the Edmund Hillary Fellowship and the associated Global Impact Visas (GIVs). It was also a hell of a refreshing change to the large majority of the policy launches I have been to.
In a column last year I bemoaned the fact that New Zealand was missing out when it came to global entrepreneurs. There were both supply and demand factors feeding into this.
From a supply perspective, New Zealand’s got a great track record when it comes to innovation and creativity, but we need more seasoned entrepreneurs if we are going to take it to the next level.
Scaling entrepreneurship needs people who have done it before to inspire and guide those who haven’t. From a demand perspective, as global security concerns and environmental challenges get worse, New Zealand looks a pretty nifty place to hang out.
Immigration New Zealand was already looking into the possibilities at the time I wrote the column, but in the intervening year it has pushed ahead with a solution. Or more accurately the department has pushed it half the way and chosen a private sector outfit – the Edmund Hillary Fellowship – to push it the rest of the way. GIVs are a three-year open work visa designed to attract visionary entrepreneurs, investors and startup teams who want to create global impact from New Zealand. If they prove their worth, GIVs can also act as a pathway to residency, but it’s not a given.
It’s being operated as a four-year pilot scheme by Immigration New Zealand.
Government officials are a bit crap at picking successful entrepreneurs, so this is where the Edmund Hillary Fellowship comes in. In a pretty broadminded move, Immigration New Zealand has outsourced this assessment to the fellowship.
Applicants need to prove their entrepreneurial or investment horsepower and track record to the fellowship – no mean feat when it’s staffed with veterans of Silicon Valley as well as local heroes like Vend, Icebreaker, the Todd Foundation and the Next Foundation.
If applicants can prove their chops for entrepreneurship or investment to the fellowship, they get passed across to Immigration New Zealand which will assess the GIV application and validate the boring but necessary stuff.
This includes a high level of English language proficiency, good character and health, and sufficient funds or the ability to earn income to support themselves and any dependants in New Zealand for the first year.
Up to 100 GIVs will be awarded each year to candidates accepted into EHF, who will join up to 20 Kiwi entrepreneurs and investors participating in the programme.
Unlike the sometimes blurry global world of immigration consultants where final fees paid can be contingent upon gaining entry, here all the fees are in the open.
As you can probably tell I think it’s a heck of a good idea. Having the world’s most entrepreneur-friendly visas can only be good for the country’s third largest export industry, and for our global competitive advantage. Only one thing worries me. That’s the recent witch-hunt of Silicon Valley billionaire Peter Thiel, who was granted citizenship in 2011 under the ‘‘exceptional circumstances’’ clause in the Citizenship Act.
Personally I don’t have a problem with one of the world’s top 20 tech entrepreneurs getting citizenship after he invested in a range of Kiwi companies, but that’s not the point.
I’m just worried the witch-hunt of the past month will make other entrepreneurs think twice before putting their hands up for a GIV. And that would be a real bugger.
So if you’re a global entrepreneur and you’re thinking about putting your hat in the ring but don’t want to be dragged across the public coals, please don’t worry. I reckon we can tell the difference.
The GIV scheme provides a work permit, and a possible route to residence. It’s not a fast track to citizenship. What’s more, the criteria are robust and are being implemented under the disinfecting gaze of sunlight.
And, we’re a friendly bunch. So if you’ve got some cool tech or intellectual property that you think could deliver widespread global impact, then you should get cracking.
Mike ‘‘MOD’’ O’Donnell is an e-commerce manager and professional director. His Twitter handle is @modsta and he’s biased towards people that get cracking.